Posts Tagged ‘hurricane’

Regulation & Environment: the ever-enduring Jones Act isn’t going away

It’s been around a long time, it gets a lot of derision, but the Jones Act isn’t going away. In this week’s Oilgram News column Regulation & Environment, Melanie Wold discusses its impact.

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EIA analysis: Kinda like last week, with Sandy and Jones still in play

Movement of products around the US as a result of Jones Act waivers, four weeks after Hurricane Sandy, continues to have a role in the weekly Energy Information Administration weekly report. It’s the second week in a row where movements under the Jones Act waiver are being viewed as a factor in the final numbers. You can read the Platts analysis here.

EIA analysis: Jones Act waiver shows its impact in product draws

There was a question when the Jones Act was waived — to allow freer movement of product from the Gulf Coast to the beleaguered Sandy-hit Atlantic Coast — whether it would make much of a difference. This week’s Energy Information Administration report certainly indicates there was an impact. You can read Platts’ analysis of this week’s statistics here.

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EIA analysis: oil stocks still being affected by the Sandy aftermath

With some refineries and terminals still down, and demand seeming to get an upward kick as the US Northeast clawed back to life from Hurricane Sandy, the impacts were seen in the weekly Energy Information Administration inventory report. You can read our analysis of it here.

Winter natural gas price roller coaster in the US Northeast starts early

For someone who lives in Houston, I spend an inordinate amount of time paying attention to the weather in the Northeast. I’m not alone, either: many of my colleagues write about markets in the Northeast, and many of the traders I know who specialize in the Northeast are actually based in Houston.

For the past two weeks, Superstorm Sandy (a much catchier name than “Hurricane Sandy”) and the first nor’easter of the season, Athena, have wreaked havoc on the Northeast. I cover cash natural gas markets in the Northeast, and my colleague, Lettie Vasquez, focuses on forward markets. Like many others, we’ve already boarded the roller coaster for winter gas price volatility. You can listen to our podcast on the issue here.

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Sandy at week’s end: climbing back. And a helpful suggestion from the ethanol industry

As the week ends, here are a few things going on with Sandy and oil markets that are trying to get back to normal.

Several developments Thursday showed companies were taking significant steps to go around the power problems in the New York area. Most facilities in the area — particularly those in the whole New Jersey-Staten Island corridor — continue to struggle with no power, flooding, or both. By the end of the day Thursday, though, there was a fair amount of good news. Buckeye Pipelines said it had restored most of its eastern pipeline system. It doesn’t have power at its Linden, NJ terminal, but it brought in generators to allow the terminal partial operations.

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EIA analysis: drop in crude stocks highlights the week before the big report

It’s hard during the events of Superstorm Sandy to worry too much about what happened in oil markets last week. It seems like eons ago. So consider this week’s EIA data and analysis of it to be like looking at a past that was very different from the present, even though it was only a few days ago. (That reminds us of the famous statement of the noted quipster and baseball reliever, the late Dan Quisenberry, who said: “I’ve seen the future and it’s much like the present, only longer.”)

Next week’s report, discussing what happened the week of Sandy, ought to be very interesting. But you can read our analysis of last week’s numbers here.

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Sandy & oil, day 3: it’s mostly about the terminals

It’s beginning to be clear that concerns about docks in Sandy were unfounded; concerns about refineries have mostly turned out to be not a problem; but terminals in the New York area are a real mess.

The Department of Energy put out a list of East Coast terminals today, and while there are open ones outside the New York area, there aren’t any open directly in New York or across the water in New Jersey. Terminal after terminal is reporting no power and lots of water. It’s that situation that is clearly making gasoline a near-impossible product to find in parts of New Jersey and New York, particularly Long Island.

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A veteran oil observer sees Sandy as a disaster for the US East Coast

I landed in New York after a 24-hour flight from Asia on Friday, only vaguely aware when I left that there was a monster storm looming for the US East Coast. The long list of emails I received as soon as I turned on my phone got me informed quickly, none more so than a note from economist Phil Verleger, a subsequent phone call with him on the drive home, and then this week’s publication of his “Notes at the Margin” report.

He sees the impact of Sandy as big….very big. Here are a few excerpts from this week’s report.

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EIA analysis: stocks and output are building again

Hurricane Isaac was weeks ago, and the return to normalcy has proceeding at a strong clip. That was the message in this week’s Energy Information Administration inventory report, which showed a big jump in crude stocks, and a significant increase in refinery runs. You can see the Platts’ analysis here.

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